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New 12 year 0.00%, 20 year 0.49% and 25 year 1.49% Loans Further Reduce Monthly Payments for Homeowners Nationwide
NEW YORK & CHARLOTTE, N.C., August 05, 2021--(BUSINESS WIRE)--Sunlight Financial ("Sunlight," NYSE: SUNL), a premier, technology-enabled point-of-sale financing company, today announced new no- and ultra-low interest loans for residential solar and storage systems. The company's new offerings include rates as low as 0.00% for a 12-year loan, 0.49% for a 20-year loan and 1.49% for a 25-year loan.
"Sunlight’s latest innovation is an enhancement to our comprehensive product suite," said Matt Potere, CEO of Sunlight Financial. "Our new no- and ultra-low interest loans will provide homeowners the opportunity to save even more on their electricity bills, by further reducing monthly payments on Sunlight-arranged loans. We are excited to offer our installation partners new financing products for residential solar and storage systems, which will help grow their businesses and accelerate America’s transition to clean, affordable renewable energy."
Sunlight’s fully digital, end-to-end platform delivers instant credit decisions and automated loan processing and funding, facilitating the sale of residential solar systems and other home improvements. More than 15,000 professionals use Sunlight’s proprietary technology platform, Orange®, to access solar and home improvement loans with interest rates from 0.00% to 6.99%, and tenors from 3 months to 25 years.
Through thoughtful risk management, Sunlight has delivered outstanding loan performance and industry-low credit losses to its broad and diverse set of capital providers. The more than 135,000 solar systems financed through Orange® as of June 30, 2021 will produce enough solar energy to avoid the emission of more than 13.5 million metric tons of carbon dioxide into the atmosphere.
Sunlight’s more than 1,500 solar and home improvement installation partners nationwide as of June 30, 2021 can download the latest version of Orange® via iOS and Android. Prospective installation partners can learn more and apply to partner with Sunlight at https://sunlightfinancial.com/enroll/.
About Sunlight Financial
Sunlight Financial (NYSE: SUNL) is a premier, technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.
The information included herein and in any oral statements made in connection herewith may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended. Forward-looking statements may generally be identified by the use of words such as "could," "should," "would," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," "plan," "continue," or the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Sunlight disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Sunlight cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Sunlight. Such risks and uncertainties include, among others: risks relating to the uncertainty of the projected operating and financial information with respect to Sunlight; risks related to Sunlight’s business and the timing of expected business milestones or results; the effects of competition and regulatory risks, and the impacts of changes in legislation or regulations on Sunlight’s future business; the expiration, renewal, modification or replacement of the federal solar investment tax credit, rebates and other incentives; the effects of the COVID-19 pandemic on Sunlight’s business or future results; Sunlight’s ability to sustain profitability and to attract and retain its relationships with third parties, including Sunlight’s capital providers and solar contractors; changes in the retail prices of traditional utility generated electricity; the availability of solar panels, batteries and other components and raw materials; and such other risks and uncertainties discussed in the "Risk Factors" section of Sunlight’s Registration Statement on Form S-1 as filed with the Securities and Exchange Commission ("SEC") on July 30, 2021, and other documents of Sunlight filed, or to be filed, with the SEC. Should one or more of the risks or uncertainties described herein occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Sunlight’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
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